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A Compendium of Property & Capital News
Nov 20
A Compendium of Property & Capital News

Kendin Carr Of Marcus&Millichap Sells Portfolio Of Somerville And Allston Condos

February 16, 2017

SOMERVILLE– Marcus & Millichap recently announced the sale of a portfolio of four investment condominiums located at 139-143 Brighton Avenue in Allston, Massachusetts, and the sale of 27 Quincy Street - Unit 2, an investment condominium located in Somerville, Massachusetts, according to Tim B. Thompson, regional manager of the firm’s Boston office. The assets sold for $2,600,000 and $535,000, respectively.

Kendin Carr, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the package of four condominiums at 139-143 Brighton Avenue in Allston on behalf of the sellers, Bliss Realty Trust and Trademark Realty Trust. Carr also had the exclusive listing to market 27 Quincy Street – Unit 2 in Somerville on behalf of the seller, Pulverizer Realty Trust.

“Ideally located close to Boston University’s West Campus and the Mass Pike, 139 – 143 Brighton Avenue is right at the heart of Allston’s commercial district,” says Carr. The property is a short walk to the many restaurants in Allston’s eclectic ethnic food scene. Boston University’s ever-increasing enrollment, as well as easy access to the MBTA Green Line and downtown, has been driving rent growth and demand in Allston for many years and no slowdown seems to be imminent.

“27 Quincy Street is located in the heart of the burgeoning Union Square neighborhood of Somerville,” states Carr. “Recent growth in the area can be attributed to the development of the highly anticipated MBTA Green Line Extension project, proximity to the upscale shopping experience at Assembly Row, as well as the addition of 850,000 square foot Partners Healthcare Complex to the Somerville community. The hot investment sales market in the area has been bolstered by a strong rental market with stable rents and low vacancy rates.”

Kendin Carr